Are political contributions tax-deductible for my business? No. Your business can’t deduct political contributions, donations, or payments on your tax return.

In the United States, a political action committee (PAC) is a 527 organization that pools campaign contributions from members and donates those funds to campaigns for or against candidates, ballot initiatives, or legislation.

If an LLC is considered a corporation, it is generally prohibited from making contributions to political committees, although it is permitted to establish a separate segregated fund (SSF).

Can I Deduct Union Dues Now? For tax years 2018 through 2025, union dues – and all employee expenses – are no longer deductible, even if the employee can itemize deductions. However, if the taxpayer is self-employed and pays union dues, those dues are deductible as a business expense.

Tax Reminder: Certain Itemized Deductions — Like Union Dues — Are Now Suspended. Employees can no longer deduct union dues in tax years 2018 through 2025 as a result of the Tax Cuts and Jobs Act (TCJA), which Congress signed into law on December 22, 2017.

Tax deductions you can itemize

• Mortgage interest of $750,000 or less.
• Mortgage interest of $1 million or less if incurred before Dec.
• Charitable contributions.
• Medical and dental expenses (over 7.5% of AGI)
• State and local income, sales, and personal property taxes up to $10,000.
• Gambling losses18.

The law limits the deduction of state and local income, sales, and property taxes to a combined, total deduction of $10,000. The amount is $5,000 for married taxpayers filing separate returns. Taxpayers cannot deduct any state and local taxes paid above this amount.

You should itemize deductions if your allowable itemized deductions are greater than your standard deduction or if you must itemize deductions because you can’t use the standard deduction. You may be able to reduce your tax by itemizing deductions on Schedule A (Form 1040), Itemized Deductions.